Salesforce, Inc. (NYSE:CRM) Shares Bought by Crestwood Advisors Group LLC

Crestwood Advisors Group LLC increased its stake in Salesforce, Inc. (NYSE:CRM) by 1.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 297,472 shares of the CRM provider’s stock after acquiring an additional 3,212 shares during the quarter. Salesforce comprises 1.9% of Crestwood Advisors Group LLC’s holdings, making the stock its 9th largest holding. Crestwood Advisors Group LLC’s holdings in Salesforce were worth $99,454,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. IFP Advisors Inc raised its holdings in Salesforce by 21.8% during the 4th quarter. IFP Advisors Inc now owns 9,733 shares of the CRM provider’s stock worth $3,255,000 after purchasing an additional 1,739 shares during the last quarter. Roffman Miller Associates Inc. PA raised its stake in Salesforce by 56.6% during the fourth quarter. Roffman Miller Associates Inc. PA now owns 59,651 shares of the CRM provider’s stock worth $19,943,000 after buying an additional 21,566 shares during the last quarter. Cannon Wealth Management Services LLC lifted its holdings in Salesforce by 70.2% in the fourth quarter. Cannon Wealth Management Services LLC now owns 1,370 shares of the CRM provider’s stock valued at $465,000 after buying an additional 565 shares during the period. Mainstay Capital Management LLC ADV grew its holdings in Salesforce by 3.5% during the 4th quarter. Mainstay Capital Management LLC ADV now owns 5,654 shares of the CRM provider’s stock worth $1,890,000 after acquiring an additional 189 shares during the period. Finally, Dover Advisors LLC raised its position in shares of Salesforce by 4.5% in the 4th quarter. Dover Advisors LLC now owns 6,739 shares of the CRM provider’s stock worth $2,253,000 after acquiring an additional 290 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors.

Salesforce Stock Performance

Shares of CRM stock opened at $309.54 on Monday. The firm’s 50 day moving average is $333.34 and its 200 day moving average is $306.18. The stock has a market capitalization of $296.23 billion, a P/E ratio of 50.91, a PEG ratio of 2.58 and a beta of 1.31. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The company had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. Salesforce’s revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.62 earnings per share. On average, sell-side analysts anticipate that Salesforce, Inc. will post 7.46 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.52%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio is presently 26.32%.

Insider Transactions at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $343.00, for a total value of $2,133,803.00. Following the completion of the transaction, the chief financial officer now directly owns 53,861 shares of the company’s stock, valued at $18,474,323. This trade represents a 10.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Sundeep G. Reddy sold 436 shares of the stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the sale, the chief accounting officer now owns 7,057 shares in the company, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,102,114 shares of company stock valued at $381,142,656. 3.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on CRM. Citigroup raised their target price on Salesforce from $368.00 to $390.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Scotiabank raised their price target on shares of Salesforce from $425.00 to $440.00 and gave the stock a “sector outperform” rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. upped their price objective on shares of Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Robert W. Baird raised their target price on Salesforce from $340.00 to $430.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Finally, BMO Capital Markets decreased their target price on Salesforce from $425.00 to $375.00 and set an “outperform” rating for the company in a research report on Friday. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-two have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $375.53.

Salesforce Profile

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.